Question
Comprehensive Problem 2 - Part 3: Child Tax Credit Worksheet, Schedule 8812, and Schedule E Note: This problem is divided into four parts. You will
Comprehensive Problem 2 - Part 3: Child Tax Credit Worksheet, Schedule 8812, and Schedule E
Note: This problem is divided into four parts. You will need to complete some of the forms in the other parts in order to determine the amounts to be used on Form 1040. Some of the data information will be reproduced in the other parts for convenience.
Follow the specific rounding instructions provided at the beginning of each form or schedule. If an amount box does not require an entry or the answer is zero, enter "0". Enter all amounts as positive numbers unless instructed otherwise.
Information regarding the Clifdens children is reproduced below:
- The Clifdens have three sons. Gerald is 17 years old, Gary is 12 years old, and Glenn is 10 years old.
- Gregory is a general partner in a partnership that owns a boutique hotel in northern California and leases the property to a hotel management company. Gregory does not materially participate in the partnership activity but the partnership activity does rise to the level of a trade or business. See Schedule K-1 from the partnership.
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